On August 17, the NEO blockchain project announced that it is considering the integration of Celer Network's layer two scaling protocol in order to improve its scalability. NEO expects that doing this could allow for faster transactions and more possibilities for the future. In the news briefing on August 17, the Director of Eco Growth at NEO, John Wang, stated that he thinks the integration with Celer (CELR) will proceed. Currently, it is under discussion. Celer's platform focuses on a solution that enables faster off-chain transactions for smart contracts and different types of payments.
In order to transfer value across its network, Celer uses a native toke called CELR. In their news release, community members state that Celer is at least 15 times faster than Bitcoin's Lightning Network. This would be a substantial improvement for network users. About this development, Wang commented that a public blockchain is a lot more than a currency. It has to have the infrastructure for a lot of users to visit it and conduct business transactions.
Back in March, the large crypto exchange called Binance offered a token launch platform called Binance Launchpad. This was completed with $4 million in sales of the CELR tokens. This followed two other initial offerings for other digital coins, including Bit Torrent in January and Fetch.AI in February. Bit Torrent trades under BTT, and Fetch.AI trades under FET.
Earlier in the month of August, the decentralized application platform, or DApps, called Tron, released a side chan solution for scaling. This is a blockchain-based solution using the V1.0 code. It is designed to enhance and ensure that the Tron main network can scale up to an unlimited capacity. This type of scaling aims to allow the DApps to consume less energy and to run with a higher level of security. It should also boost the efficiency of the transactions that take place on Tron.